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Few members have made any progress in putting in place new legislation, and FSB says they must push forward "aggressively" to meet the G20 deadline of the end of 2012 in as many reform areas as possible. It acknowledges the importance of consistency between markets, and that smaller members are waiting to see what the EU and US regulators put in place. It also notes that overlaps, gaps or conflicts between laws could compromise achievement of the G20 objectives. It will publish its next report in spring 2012. It welcomes comment on its report before 30 November. (Source: FSB Updates on OTC Derivatives Reform)

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